Barrick Gold Corp (NYSE:GOLD) Given Average Rating of “Moderate Buy” by Analysts

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) has received an average rating of “Moderate Buy” from the ten research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $23.60.

GOLD has been the topic of a number of recent analyst reports. Scotiabank raised their target price on shares of Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Thursday, August 29th. CIBC lifted their price target on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Jefferies Financial Group lifted their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, Raymond James decreased their price target on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ritholtz Wealth Management boosted its holdings in Barrick Gold by 2.8% in the third quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock valued at $361,000 after acquiring an additional 502 shares in the last quarter. Silverlake Wealth Management LLC boosted its holdings in Barrick Gold by 1.3% in the third quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock valued at $992,000 after acquiring an additional 628 shares in the last quarter. Edge Wealth Management LLC boosted its holdings in Barrick Gold by 6.3% in the first quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock valued at $204,000 after acquiring an additional 725 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Barrick Gold by 1.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 38,999 shares of the gold and copper producer’s stock valued at $650,000 after acquiring an additional 731 shares in the last quarter. Finally, Greenleaf Trust boosted its holdings in Barrick Gold by 3.5% in the first quarter. Greenleaf Trust now owns 25,119 shares of the gold and copper producer’s stock valued at $418,000 after acquiring an additional 838 shares in the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Trading Up 2.1 %

Shares of Barrick Gold stock opened at $20.35 on Friday. Barrick Gold has a 12-month low of $13.76 and a 12-month high of $21.21. The company has a market cap of $35.67 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 0.47 and a beta of 0.55. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $19.98 and its 200-day moving average price is $18.19.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. Barrick Gold’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm posted $0.19 earnings per share. On average, equities analysts expect that Barrick Gold will post 1.27 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold’s dividend payout ratio is 48.78%.

About Barrick Gold

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.